Local Bounti Corporation (NYSE:LOCL) Sees Large Increase in Short Interest

Local Bounti Corporation (NYSE:LOCL) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 86,573 shares, a growth of 46.7% from the August 31st total of 59,002 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 59,581 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Local Bounti from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Local Bounti Trading Up 2.5%

LOCL traded up $0.03 during trading hours on Friday, hitting $1.09. 108,199 shares of the company’s stock were exchanged, compared to its average volume of 489,504. Local Bounti has a 12-month low of $0.95 and a 12-month high of $4.00. The firm has a 50 day moving average of $1.08 and a 200 day moving average of $1.37. The firm has a market cap of $25.39 million, a P/E ratio of -0.39 and a beta of 2.81.

Local Bounti (NYSE:LOCL) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.18). The business had revenue of $13.85 million for the quarter, compared to analyst estimates of $22.00 million.

About Local Bounti

Local Bounti Corporation (NYSE: LOCL) was a controlled-environment agriculture company focused on growing fresh produce indoors. The company used hydroponic and vertical-farming methods, including its proprietary Stack & Flow Technology, to cultivate crops in climate-controlled facilities throughout the year.

Its product portfolio primarily included leafy greens, lettuce and fresh herbs marketed under the Local Bounti brand. The company supplied produce to grocery retailers, foodservice distributors and other commercial customers, emphasizing locally grown products with consistent availability and quality.

Founded in 2018 and headquartered in Hamilton, Montana, Local Bounti developed and operated indoor growing facilities serving customers in multiple U.S.